Greatmark Investment Partners Inc. reduced its stake in Western Union Co. (NYSE:WU) by 51.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,628 shares of the company’s stock after selling 111,577 shares during the period. Greatmark Investment Partners Inc.’s holdings in Western Union were worth $2,045,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. PGGM Investments raised its stake in shares of Western Union by 452.0% in the second quarter. PGGM Investments now owns 1,908,009 shares of the company’s stock valued at $36,596,000 after buying an additional 1,562,332 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Western Union during the second quarter valued at about $23,153,000. Chubb Ltd. purchased a new stake in shares of Western Union during the first quarter valued at about $13,503,000. Clarkston Capital Partners LLC raised its stake in shares of Western Union by 7.2% in the second quarter. Clarkston Capital Partners LLC now owns 6,143,685 shares of the company’s stock valued at $117,836,000 after buying an additional 413,257 shares in the last quarter. Finally, Natixis purchased a new stake in shares of Western Union during the first quarter valued at about $7,193,000.
Western Union Co. (NYSE:WU) traded down 1.39% during midday trading on Monday, hitting $19.84. The stock had a trading volume of 2,667,195 shares. The company’s 50 day moving average price is $20.65 and its 200-day moving average price is $19.99. Western Union Co. has a 52-week low of $16.02 and a 52-week high of $21.80. The stock has a market cap of $9.68 billion, a PE ratio of 11.94 and a beta of 1.19.
Western Union (NYSE:WU) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. Western Union had a return on equity of 63.02% and a net margin of 15.33%. The company earned $1.40 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same quarter in the previous year, the business earned $0.41 EPS. Western Union’s revenue was down .6% compared to the same quarter last year. Analysts forecast that Western Union Co. will post $1.65 EPS for the current fiscal year.
Several analysts have issued reports on WU shares. Vetr lowered Western Union from a “hold” rating to a “sell” rating and set a $19.20 target price for the company. in a research note on Wednesday, July 13th. Barclays PLC lowered Western Union from an “equal weight” rating to an “underweight” rating and set a $20.00 target price for the company. in a research note on Thursday, July 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $17.00 target price on shares of Western Union in a research note on Tuesday, August 23rd. Zacks Investment Research downgraded Western Union from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. Finally, Monness Crespi & Hardt downgraded Western Union from a “buy” rating to a “neutral” rating and set a $22.00 price objective for the company. in a research report on Thursday, September 8th. Eight research analysts have rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $18.91.
In related news, insider Hikmet Ersek sold 276,127 shares of the business’s stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $21.52, for a total transaction of $5,942,253.04. Following the completion of the transaction, the insider now owns 407,285 shares in the company, valued at approximately $8,764,773.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael Miles sold 21,281 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $20.37, for a total value of $433,493.97. Following the transaction, the director now owns 126,819 shares of the company’s stock, valued at approximately $2,583,303.03. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Western Union Company Profile
The Western Union Company (Western Union) is a provider of money movement and payment services. The Company operates through three segments: Consumer-to-Consumer, Consumer-to-Business and Business Solutions. Western Union’s Consumer-to-Consumer segment is engaged in individual money transfers from one consumer to another.
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